BTC Jumps to $114K While DOGE Leads Rally Amid M2 Market Setup

Bitcoin Approaches $114K as DOGE Leads Crypto Rally; M2 Signal Fuels Optimism

Crypto markets climbed Thursday, with Bitcoin nearing $114,200 and Dogecoin leading daily gains, as historical M2 trends point to potential upside.

BTC rose 2.4% over 24 hours, while Ether (ETH) gained 2.4% to $4,400. XRP surpassed $3, BNB edged toward $900, and Solana (SOL) added nearly 3%. Dogecoin (DOGE) surged 5%, extending a weeklong rally to 15.9%.

CF Benchmarks flagged Bitcoin’s current price as below its fair value relative to U.S. M2 money supply growth—a divergence comparable to August 2024. Similar patterns in 2016, 2019, and 2021 preceded significant rallies. Historically, M2 expansion leads BTC price by roughly three months, suggesting Q4 liquidity tailwinds could support further upside.

“BTC continues to attract buyers on intraday dips, forming a fragile uptrend,” said FxPro analyst Alex Kuptsikevich. “$112K is the near-term battleground, while $115K above the 50-day moving average is key for sustained bullish momentum.”

Options markets show increased demand for downside protection ahead of U.S. CPI data, reflecting cautious sentiment.

Solana’s total value locked (TVL) hit a record $12.2 billion, up 57% since June, reinforcing its 3% price gain. Meanwhile, DOGE’s rally continues as institutional and retail flows accelerate. Upcoming inflation data will remain a critical factor for crypto’s near-term trajectory.